Pope revolutionizes Vatican by opening finances to scrutiny

Reuters ^ | Feb 24, 2014 | PHILIP PULLELLA

[JerseyanExile]

Pope Francis on Monday revolutionized the Vatican's scandal-plagued finances, inviting outside experts into a world often seen as murky and secretive and saying the church must use its wealth to help the poor.

Francis, elected nearly a year ago with a mandate for reform, used a document known as a Motu Proprio - Latin for "by his own initiative" - to implement immediate changes including appointing an auditor-general.

The document says the Church must see its possessions and financial assets in the "light of its mission to evangelize, with particular concern for the most needy".

A new Secretariat for the Economy will report directly to the pope and will be headed by Australian Cardinal George Pell, 72, currently the Archbishop of Sydney and a key proponent of financial transparency in a committee that advised the pope. A Church source said Pell would move to Rome.

The auditor-general will have wide oversight powers "to conduct audits of any agency of the Holy See and Vatican City State at any time," a statement said.

The Secretariat, effectively a new ministry, will be headed by Pell and guided in policy making by a new 15-member Council for the Economy made up of eight prelates and seven lay financial experts "with strong professional financial experience" from around the world, according to the statement.

[fwdude]

Silver/metal polish - $500,000

[Kevmo]

My prediction is that this will be so much trouble that the Vatican will go back to its old ways.

[Fungi]

Read the following and see if anything will change. I do not think so. David Yallop, “In Gods Name.” “Marcinkus” is the key player.

[Alex Murphy]

A new Secretariat for the Economy will report directly to the pope and will be headed by Australian Cardinal George Pell, 72, currently the Archbishop of Sydney and a key proponent of financial transparency in a committee that advised the pope. A Church source said Pell would move to Rome. The auditor-general will have wide oversight powers "to conduct audits of any agency of the Holy See and Vatican City State at any time," a statement said.

The Secretariat, effectively a new ministry, will be headed by Pell and guided in policy making by a new 15-member Council for the Economy made up of eight prelates and seven lay financial experts "with strong professional financial experience" from around the world, according to the statement.

PFL

[Bigg Red]

Prayers up for success for the new initiative.